VOC Energy Trust is a statutory trust that holds a term net profits interest in certain oil and natural gas properties for the benefit of its unitholders. It was formed by VOC Brazos Energy Partners, L.P. to acquire and maintain the rights to a portion of net proceeds from production on specific leases in Texas and Kansas.
The Trust is non-operating — it does not drill or manage production — but instead collects its share of revenues after operating and capital costs on the underlying properties. Its interest is structured as an 80 % term net profits interest in those production proceeds.
VOC’s underlying assets include interests in hundreds of wells (for example ~454 net producing wells) and tens of thousands of acres across Kansas and Texas. The properties span multiple producing zones including in the Central Kansas Uplift (Fairport, Marcotte, Chase-Silica) and in western and south-central Kansas (Bindley, Gerberding, Spivey, etc.). The Trust is managed by a trustee (Bank of New York Mellon), which administers the net profits interest and distributes revenues to unitholders in accordance with the trust agreement.